Reserve Bank governor Glenn Stevens is reluctant to introduce new regulations on home loans to help cool the booming property market, but he is open to the idea.
The central bank has flagged that it might start using macroprudential tools amid concerns about the impact investors are having on Australia's housing boom.
Possible options could include insisting on higher deposits for property investors or tighter loan-to-valuation ratios for mortgages, moves which could help protect the financial system and economy from becoming unstable.
Mr Stevens said on Thursday that he was concerned by the double-digit rise in property loans to investors.
However, he stressed he was "not naive enough" to believe that macroprudential tools would be a panacea or permanent solution.
"But that doesn't mean you shouldn't use them for a period," he told the Melbourne Economic Forum.
"At the margin they might be helpful, and that's the kind of thing that's in my mind - nothing more.
"I don't think that's any change in tune."
The Reserve Bank on Wednesday said it was working with regulators to try to curb risky lending to property investors, amid concerns that the housing market is overheating.
The central bank is worried about soaring house prices and rapidly growing investor activity, warning it could pose risks to the economy.
It says low interest rates, rising house prices and competition among lenders have driven a strong pick-up in lending to property investors, particularly in Sydney and Melbourne.
It has warned banks to be cautious with home loans and begun talks with the Australian Prudential Regulation Authority about making sure that lenders stick to sound lending practices.
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